Sentences with phrase «fiduciary advice since»

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It has been close to a year since the Department finalized the Fiduciary Rule and PTEs, and now with the additional extension of the applicability date contained in this final rule, there is little basis for concluding that advisers need still more time before they will be ready to give advice that is in the best interest of retirement investors and free from material misrepresentations in exchange for reasonable compensation.

Given the «significant changes to retirement saving since the passage of ERISA,» the Coalition said, «it is entirely appropriate for the DOL to reevaluate the 40 year - old - rule defining the fiduciary standard for those financial professionals providing investment advice to retirement savers,» adding that the Coalition urges OMB to complete its review of the rule «in a timely fashion.»

«Given the significant changes to retirement saving since the passage of ERISA, it is entirely appropriate for the DOL to reevaluate the 40 - year - old rule defining the fiduciary standard for those financial professionals providing investment advice to retirement savers,» the FPC said in a statement.

Since taking office, the Department of Labor has delayed the fiduciary rule, which would have required financial advisers to always act in the interest of their clients when giving retirement investment advice.

The Department of Labor's fiduciary rule, in effect since June, requires anyone giving investment advice regarding a 401 (k) or an IRA — including, for the first time, securities brokers — to act in the client's best interest.

Banks, asset managers and insurers have been fighting the fiduciary rule ever since the Labor Department approved it last year, saying the regulation could raise the costs of providing advice and make it harder to serve lower - income clients.